- The local currency stays strong against Dollar and Euro at parallel market
- The Naira closed at N364 to a Dollar, N440 to Euro while the Pound traded at N500
- The recent appreciation of the Naira can be attributed to intervention of the CBN at the foreign exchange market
The Nigerian Naira on Wednesday, January 24, retained its strengthened rate at the parallel market against Dollar.
According to NAIJ.com findings, the local currency maintained the same rates of N364 against Dollar, N500 to £1 and N440 against Euro as it was yesterday, January 23.
Naira maintains strength against Dollar
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The Central Bank of Nigeria (CBN) has boosted the inter-bank foreign exchange market with $210 million to meet customers’ requests in various segments of the market.
The Bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Monday in Abuja said the fund would ensure that legitimate demands for foreign exchange are met.
He said that the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got $55 million.
Can 1 Naira ever become 1 US dollar again on the Forex market? - on NAIJ.com TV.
Source: Naija.ng
ROSY CREST
Thursday, 25 January 2018